Budget Info can be found on the Township website or on Teaneck.info
For a similar chart going back 20 YEARS: click below
For the past 6 straight years, Teaneck’s Council has introduced a ZERO-increase budget for the Municipal side of your tax bill.
You can see the difference a zero based budget makes by comparing the Municipal to BOE lines, in the charts above.
The difference between the amount Teaneck was permitted to raise taxes pursuant to statute – and – the ZERO-based budgets we passed, would have meant an increase of approximately $1,047 extra in Municipal taxes every single year.
FACTS: The Budgets by year (as well as the Cap Bank – amount not raised) appear below with links to the source documents on the Township website.
In the State of New Jersey, municipalities may bond up to the debt limit, which is 3.5% of the equalized valuation of taxable real estate.
In plain English:
- Each town adds up the value of all their land, buildings, etc… averaged over last three years.f
- The limit they can bond is 3.5% of that number.
And since the amount each town can bond is relative to their individual valuations, you get a metric that can be compared across towns.
Facts: The annual debt statement, allows you to compare neighboring municipalities’ percentage of authorized debt, against each other.
(The data below are pulled from the authorized debt statements submitted to the State)
The chart above shows how Teaneck looks, based on the submitted annual debt statements from Bergenfield, Bogota, Englewood, Hackensack and New Milford.
Each link below will bring you to the Annual Debt Statement, filed under oath with the State of New Jersey.
“[A]t some point it may be economically prohibitive to have our own Police our own fire (department)”
– Councilwoman Gervonne Romney-Rice on the Teaneck Drum Podcast